$29.03 Million in Sales Expected for ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) This Quarter
Brokerages expect ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) to post sales of $29.03 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for ACADIA Pharmaceuticals’ earnings. The lowest sales estimate is $25.14 million and the highest is $32.40 million. ACADIA Pharmaceuticals posted sales of $5.27 million in the same quarter last year, which suggests a positive year over year growth rate of 450.9%. The firm is expected to issue its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that ACADIA Pharmaceuticals will report full year sales of $29.03 million for the current fiscal year, with estimates ranging from $106.61 million to $115.60 million. For the next year, analysts anticipate that the company will report sales of $230.41 million per share, with estimates ranging from $224.00 million to $233.94 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow ACADIA Pharmaceuticals.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.72) by $0.17. The firm had revenue of $30.50 million for the quarter, compared to analyst estimates of $20.02 million. ACADIA Pharmaceuticals had a negative return on equity of 62.08% and a negative net margin of 485.14%. The company’s revenue for the quarter was up 30400.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.63) earnings per share.
A number of analysts have weighed in on ACAD shares. BidaskClub upgraded ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 21st. Zacks Investment Research upgraded ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, April 14th. Rodman & Renshaw reiterated a “buy” rating and set a $60.00 price target on shares of ACADIA Pharmaceuticals in a report on Monday, May 22nd. ValuEngine upgraded ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Finally, HC Wainwright reiterated a “buy” rating on shares of ACADIA Pharmaceuticals in a report on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $43.23.
ACADIA Pharmaceuticals (ACAD) opened at 31.21 on Friday. The firm’s 50-day moving average price is $29.35 and its 200 day moving average price is $32.02. ACADIA Pharmaceuticals has a 12-month low of $20.68 and a 12-month high of $40.83. The company’s market capitalization is $3.81 billion.
In related news, EVP Glenn Baity sold 1,903 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $30.00, for a total value of $57,090.00. Following the transaction, the executive vice president now owns 83,059 shares of the company’s stock, valued at approximately $2,491,770. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 54,322 shares of company stock worth $1,699,551. 22.25% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. boosted its position in shares of ACADIA Pharmaceuticals by 23.0% in the first quarter. Envestnet Asset Management Inc. now owns 3,296 shares of the biopharmaceutical company’s stock valued at $113,000 after buying an additional 617 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of ACADIA Pharmaceuticals by 10.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 5,133 shares of the biopharmaceutical company’s stock valued at $143,000 after buying an additional 468 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at $145,000. PNC Financial Services Group Inc. boosted its position in shares of ACADIA Pharmaceuticals by 138.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,384 shares of the biopharmaceutical company’s stock valued at $150,000 after buying an additional 2,548 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of ACADIA Pharmaceuticals by 12.8% in the first quarter. Nisa Investment Advisors LLC now owns 4,510 shares of the biopharmaceutical company’s stock valued at $155,000 after buying an additional 510 shares during the last quarter. 97.34% of the stock is currently owned by institutional investors and hedge funds.
ACADIA Pharmaceuticals Company Profile
ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis).
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